China

The price of bitcoin has seen a larger than normal drop in trading prices over the past day on a number of bitcoin exchanges. In a major sell-off that started last night, Mt. Gox , the largest US dollar bitcoin exchange, saw a low price today of $800 from a recent high of $1,230, a 35% decrease before bouncing back up a bit. Almost 52,000 bitcoins have been traded on Gox over the past 24 hours. Bitcoin price on Mt. Gox over the past two days. Source: Bitcoincharts CoinDesk’s Bitcoin Price Index , which is an aggregate calculation of top exchange prices, has seen a 24-hour drop of $185 since the day’s open, or 18%, at the time of writing. The number of negative news articles being produced about bitcoin and virtual currencies in general has probably contributed to a decline in pricing over the short term. Earlier this week, China’s central bank along with four government mi...